Image courtesy of Xenia Hotels & Resorts

Orlando, Florida-based Xenia Hotels & Resorts Inc. has agreed to buy the Hotel Commonwealth in Boston’s Kenmore Square, which is undergoing a 96-room expansion, for $136 million.

The transaction will close in early 2016 following the completion of the expansion, which will bring capacity up to 245 rooms. The project also includes 7,000 square feet of indoor meeting space, a 1,700-square-foot patio and three-level parking garage.

Xenia is increasing its boutique lifestyle hotel portfolio with the acquisition and that of hotels in Charleston, Portland, Philadelphia and Santa Barbara, CEO Marcel Verbaas said in a statement. Sage Hospitality, which has managed the hotel since 2012, will continue in that role.

Completed in 2003, the hotel reported revenues per available room of $235 during the year ending June 30. Xenia said it’s expected to generated EBITDA of $9.5 million to $11 million in 2016.

The acquisition does not include the ground-floor space occupied by the Eastern Standard restaurant, Hawthorne Lounge and Island Creek Oyster Bar.

Xenia owns 49 hotels in 20 states and the District of Columbia.